Replication data for: The Economic and Policy Consequences of Catastrophes
Principal Investigator(s): View help for Principal Investigator(s) Robert S. Pindyck; Neng Wang
Version: View help for Version V1
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| PindyckWangDATASET | 10/13/2019 07:48:AM | ||
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text/plain | 14.6 KB | 10/13/2019 03:48:AM |
Project Citation:
Pindyck, Robert S., and Wang, Neng. Replication data for: The Economic and Policy Consequences of Catastrophes. Nashville, TN: American Economic Association [publisher], 2013. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114844V1
Project Description
Summary:
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How likely is a catastrophic event that would substantially reduce
the capital stock, GDP, and wealth? How much should society be
willing to pay to reduce the probability or impact of a catastrophe?
We answer these questions and provide a framework for policy
analysis using a general equilibrium model of production, capital
accumulation, and household preferences. Calibrating the model to
economic and financial data, we estimate the mean arrival rate of
shocks and their size distribution, the tax on consumption society
would accept to limit the maximum size of a catastrophic shock, and
the cost to insure against its impact.
Scope of Project
JEL Classification:
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D81 Criteria for Decision-Making under Risk and Uncertainty
E22 Investment; Capital; Intangible Capital; Capacity
E23 Macroeconomics: Production
E32 Business Fluctuations; Cycles
G22 Insurance; Insurance Companies; Actuarial Studies
H25 Business Taxes and Subsidies including sales and value-added (VAT)
Q54 Climate; Natural Disasters and Their Management; Global Warming
D81 Criteria for Decision-Making under Risk and Uncertainty
E22 Investment; Capital; Intangible Capital; Capacity
E23 Macroeconomics: Production
E32 Business Fluctuations; Cycles
G22 Insurance; Insurance Companies; Actuarial Studies
H25 Business Taxes and Subsidies including sales and value-added (VAT)
Q54 Climate; Natural Disasters and Their Management; Global Warming
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